International Conference on Eurasian Economies
17-18 September 2013 – St. Petersburg, RUSSIA
Paper detail
Paper ID : 725
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Asst. Prof. Dr. Resül Yazıcı
Session : 2C Finans
The Importance of Independent Regulatory and Supervisory Agencies in Restructuring of the Banking Sector: Lessons for Transition Economies from the Ca
Bağımsız Düzenleyici Denetleyici Kurumların Bankacılık Sektörünün Yeniden Yapılanmasında Önemi: Türkiye Örneğinden Geçiş Ekonomilerinin Alabileceği Dersler
- Asst. Prof. Dr. Resül Yazıcı (Bilecik Şeyh Edebali University, Türkiye)
- Asst. Prof. Dr. Ayla Yazıcı (Anadolu University, Türkiye)
Abstract
For countries, who did not know whence and how to start the quest for reform, that has come into question because of crises and downfalls, the solution process extends and the cost increases. In countries that are in the process of restructuring, the most important reform to alleviate these adversities will be the establishment of independent regulatory and supervisory agencies. The financial sector which is acting as an intermediary in the development of market economies should be at most subject to regulation and supervision. However, if these regulations and supervisions are supragovernmental the success of the transition to market economies will improve quickly. In this study the causes of the banking crises experienced in Turkey in 2001, and the means of solution to overcome them, are discussed. Owing to the creation of independent regulatory and supervisory agencies, the Turkish banking sector has qualitatively and quantitatively grown and has transfered positive externalities to the economy. Especially due to the efficient functioning of the regulatory and supervisiory agencies in the banking sector, Turkey has so far successfully managed the global financial crises. In this context with this study, it is aimed to present for transition economies in the process of restructuring, that the services of resource utilization to the private sector, which is the main function of banking, will develop and, like Turkey, these countries can achieve the same outcomes. This means that, these economies can benefit from Turkey's experiences.
JEL codes: G01, G21, G28
Yazıcı, Resül, Yazıcı, Ayla (2013). "The Importance of Independent Regulatory and Supervisory Agencies in Restructuring of the Banking Sector: Lessons for Transition Economies from the Ca" in Proceedings of International Conference of Eurasian Economies 2013, pp.589-597, St. Petersburg, RUSSIA.
DOI: https://doi.org/10.36880/C04.00725
